Mother Nature's Wrath Creates Prosperity

Consumer spending is what China needs now: Wen Jiabao

(NEWSER) - China's premier today called on his countrymen to spend big to boost the national economy because international markets aren't up to the job. "Expanding domestic demand, particularly consumer demand, is essential to ensuring China's long-term, robust economic development, and is the focus of our economic work this year," Premier Wen Jiabao told the National People's Congress. To that end, Wen pledged greater support for health care, social security, jobs programs, and public housing to put more money in people's pockets, reports AP . The government will also back more paid vacations and greater consumer credit, he vowed. His address underscores a new government concentration on bolstering consumer spending in China rather than a focus on exports and low-cost labor. More»

Reported natural disasters have doubled in past two decades

(AP) - If it's felt like Mother Nature has been a little angrier lately, you're not imaging things. More than 42 million people around the world were forced to flee their homes because of natural disasters in 2010, more than double the number during the previous year. More than 90% of these disaster displacements were caused by weather-related hazards such as floods and storms, according to a report released today by the Internal Displacement Monitoring Centre. It says the number of reported natural disasters has doubled from around 200 to more than 400 a year over the past two decades. More»

The price tag of 2008's earthquake in China? $147B

(NEWSER) - Japan's devastating earthquake has pushed natural disasters back into the headlines again, and the Telegraph runs down the most costly in history:

• Earthquake in Sichuan, China, 2008: The 7.8-magnitude temblor killed more than 70,000 and left 11 million homeless. Cost: $147 billion.
• Earthquake in Kobe, Japan, 1995: The city of Kobe alone lost 4,600 of the 6,434 people who died. Cost: $144 billion.

Government promises help to 200K affected

(NEWSER) - The good news for Australia: It got to celebrate New Years first! The bad news: A huge portion of the country is underwater. Prime Minister Julia Gillard today promised government assistance to the roughly 200,000 people that have been affected by a huge flood in the northeastern state of Queensland, the LA Times reports. Rivers in the region started overflowing last week, flooding or isolating 22 towns and covering an area bigger than Texas. More»

No clear favorite among 18 candidates

(NEWSER) - Facing recovery from a pair of natural disasters and an outbreak of cholera, work is cut out for Haiti’s next president. Who that will be, however, is anyone’s guess: of 18 candidates, no one campaigner has pulled ahead, the Wall Street Journal reports. With some 80% of pledged relief funds still tied up and 1.5 million still living in tent cities, anger is running high ahead of Sunday's vote. More»